HB Wealth Management LLC Raises Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• HB Wealth Management LLC increased its stake in DoorDash, Inc. by 73.5%, bringing its total holdings to 3,891 shares valued at $711,000.
• Multiple institutional investors notably boosted their stakes in DoorDash, with ORG Partners LLC increasing their holdings by 404.0% and Rothschild Investment LLC by 1,452.9% in the first quarter.
• Wall Street analysts have shown strong confidence in DoorDash, with upgraded price targets; Cantor Fitzgerald raised its target from $210.00 to $260.00 and Truist Financial increased theirs from $230.00 to $272.00.

HB Wealth Management LLC grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 73.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,891 shares of the company's stock after purchasing an additional 1,648 shares during the quarter. HB Wealth Management LLC's holdings in DoorDash were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of DASH. ORG Partners LLC boosted its position in shares of DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC boosted its position in DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after buying an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. boosted its position in DoorDash by 150.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after buying an additional 180 shares in the last quarter. Washington Trust Advisors Inc. acquired a new position in DoorDash in the first quarter valued at about $56,000. Finally, Cromwell Holdings LLC acquired a new position in DoorDash in the first quarter valued at about $58,000. Institutional investors own 90.64% of the company's stock.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 30,000 shares of the firm's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $243.02, for a total transaction of $7,290,600.00. Following the completion of the transaction, the chief operating officer owned 942,554 shares of the company's stock, valued at approximately $229,059,473.08. This trade represents a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total value of $7,219,800.00. Following the transaction, the director directly owned 22,545 shares of the company's stock, valued at $5,425,679.70. This represents a 57.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,127 shares of company stock valued at $115,087,539. Corporate insiders own 5.83% of the company's stock.

DoorDash Stock Down 0.8%

Shares of DASH stock traded down $1.90 during trading on Friday, hitting $248.35. The company had a trading volume of 2,945,040 shares, compared to its average volume of 2,699,196. The stock's 50-day moving average is $230.64 and its two-hundred day moving average is $203.47. The stock has a market capitalization of $105.24 billion, a price-to-earnings ratio of 322.54 and a beta of 1.70. DoorDash, Inc. has a 52 week low of $106.21 and a 52 week high of $252.87.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period last year, the business earned ($0.06) earnings per share. The business's quarterly revenue was up 20.7% on a year-over-year basis. On average, research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JMP Securities increased their price objective on shares of DoorDash from $235.00 to $250.00 and gave the company a "market outperform" rating in a report on Tuesday, July 15th. Wedbush reaffirmed an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. KeyCorp raised their target price on shares of DoorDash from $235.00 to $295.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Benchmark raised their target price on shares of DoorDash from $225.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $230.00 price target on shares of DoorDash in a research note on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $235.56.

About DoorDash

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.